Overall, 2017 was a good year for multifamily property sales in Minden/Gardnerville.
Compared to 2016, here are the numbers:
|2016 / 2017||# Units Sold||Average SP||DOM|
|2-4 Units||20 / 12||$294k / $305k||91 / 102|
|5+ Units||0 /0|
While the number of 2-4 unit properties sold in 2017 decreased by 40% over 2016, the average sales price increased by 4%. The increase in average sales price is less than South Lake Tahoe and Carson City increases, but more sustainable than in those markets. The average days on market (DOM) increased 12% to 102 days, equaling nearby markets. And while there were no larger unit property sales in 2017, currently there is one 5+ unit property in escrow.
In sum: prices are increasing at a reasonable, sustainable rate for 2-4 unit properties. I predict 2018 will see an increase in the number of 2-4 unit properties sold in Minden/Garderville over 2017 numbers, as well as in the average sales price.
Currently only FOUR 2-4 units properties are listed on the MLS, and NO 5+ property. Due to the lack of properties for sale, and increasing prices,
Now is an excellent time to list your multifamily property.
My MLS Listings:
Duplex in SLT, 2 separate 1/1s, great condition, near Whole Foods, $399k
ARE YOU READY TO SELL YOUR MULTI-FAMILY PROPERTY?
I have clients looking for multi-family properties, in any area. Call me to discuss how we can maximize the value of your property.
My Pocket Listings:
Duplex in SLT, $2750/mo rent, two 2/1s, recent renovations, CALL
5 CA units, two 3/2s, two 2/1s, 1/1, recent improvements, CALL
8 CA units, 3/2 house, convenient for workers, recent improvements, CALL
11 CA units, new roof, paint, near the lake, separately metered, CALL
14 CA units, all nicely upgraded units, $15k+/mo. income, CALL
128 units in South Sacramento, CALL
What is a pocket listing? Some of my clients prefer to maintain their privacy and not list their property on the MLS. These properties are only available by contacting me directly.
21 units in Zephyr Cove, NV. 16 one bedrooms, 4 two bedrooms and a 3/2 townhouse style unit. Two minute walk to shopping, and an easy stroll to the lake, with underground parking. An off-market transaction.
SOLD in the past 12 months:
1040 Marjorie, SLT, seven units, representing B/S, $625k
3835 Pentagon, SLT, duplex, representing B/S, $410k
1015 Glen Rd, SLT, duplex, representing S, $420k
1256 Sierra Blvd, duplex, representing S, $436k
84 McFaul Way, NV, 21 units, representing B, $2M
What people are saying:
I’ve been an active real estate investor for 30+ years and have worked with many different agents, some good and some not so good. This was my first investment in the Lake Tahoe area and David helped me get a feel for the local market and made the transaction go very smoothly. He’s knowledgeable and extremely professional. I will use David for any future purchases or sales I have in the area and highly recommend his services to others who need a good real estate professional.
CALL ME TODAY TO DISCUSS LISTING YOUR PROPERTY.